The solar industry saw rapid growth with the advent of the Power Purchase Agreement (PPA), a method of financing a solar photovoltaic (PV) system. A PPA is an agreement in which a solar developer manages and executes the design, permitting, finance, installation, maintenance and monitoring of a PV system on a customer's property or roof at little to no upfront cost. The solar developer or another third party is the system owner that sells the power generated directly to the host customer at a fixed rate—usually lower than the local utility’s retail rate. With annual price hikes by local utilities and energy price volatility, customers find a predictable energy cost attractive.

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As the fastest growing fuel source globally in 2016, solar power is expected to lead the transition to clean, renewable energy (Bloomberg). Solar technology has already proven its efficiency and competiveness with other fuel sources, and the implementation of batteries and methods of energy storage is becoming increasingly important. Battery technology in conjunction with a solar photovoltaic (“PV”) system enables the energy produced by the PV system to be used when solar irradiance is reduced on a cloudy day or eliminated at night.